Financial literacy

1. Organisational structure - governance - risk management.

The term "financial literacy" developed from the concept of language literacy, the ability to read and write to a minimum level to participate in activities mediated through text.

By extension, in the organisational context, financial literacy is the minimum level of financial understanding, skills and education that non-finance specialist managers and need in order to be fully effective in their organisational roles.

The more senior the individual's organisational role, the greater the level of financial literacy they need in order to be effective.

2. Financial wellbeing and inclusion.

The minimum level of financial understanding that individuals need in order to manage their personal and household finances, and mitigate their risks of being victims of certain forms of financial fraud.

See also

• Back office
• Business risk
• Centre for Excellence in Financial Inclusion
• Efficient market
• Fair market
• Finance
• Financial exclusion
• Financial inclusion
• Financial wellbeing
• Fraud
• Governance
• Household
• Learning and development (L&D)
• Operational risk
• Operations
• Performance risk
• Retail
• SDG 4
• Sustainable Development Goals
• Systems risk
• Treasury operations
• Treasury risk
• Wellbeing